CIBC Asset Management Intends to Replace Aletheia as Sub-advisor

TORONTO, Nov. 26, 2012 /CNW/ - CIBC Asset Management Inc. (CAMI) today
announced that it intends to replace Aletheia Research and Management, Inc.
(Aletheia) as sub-advisor for its Imperial U.S. Equity Pool, Frontiers U.S.
Equity Pool, Renaissance U.S. Equity Growth Fund and Renaissance Global Focus
Fund.
On November 11, 2012, Aletheia filed for protection under Chapter 11 of the
U.S. Bankruptcy Code. The Chapter 11 process allows Aletheia to continue to
operate while restructuring. Prior to the Chapter 11 filing, CAMI had been
taking steps to replace Aletheia as sub-advisor, including identifying
replacement sub-advisors and preparing for necessary approvals and regulatory
filings.
CAMI will announce the new sub-advisors when all details are finalized. CAMI
will continue to provide investment management oversight for these mandates
and will manage the transition to ensure consistency for all unitholders.
The assets of the mandates continue to be custodied with CIBC Mellon Trust
Company, and are not impacted by Aletheia's Chapter 11 filing.
As the Chapter 11 filing impacts the timing for CAMI to replace Aletheia, CAMI
is making a motion in the Chapter 11 proceedings to allow it to continue with
its replacement plans.
CIBC Asset Management, the asset management division of CIBC, is responsible
for the CIBC and Renaissance Investments families of mutual funds, Imperial
Pools, Frontiers Pools and the CIBC family of managed portfolio solutions -
Axiom Portfolios, CIBC Managed Portfolio Services and CIBC Personal Portfolio
Services. CIBC Asset Management manages more than $55 billion in assets.
Media contact: Kevin Dove, Head, External Communications and Media Relations,
at 416-980-8835 or e-mail:kevin.dove@cibc.ca.
SOURCE: CIBC
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CO: Renaissance Investments
ST: Ontario
NI: FIN FND FLOWS
-0- Nov/27/2012 02:03 GMT